Blockchain as a driver of digitalization: essence, competitive advantages and approaches to regulation in the world and Ukraine

Abstract

The scientific work explored the main features of blockchain as a driver of digitalization: essence, competitive advantages and approaches to regulation in the world and Ukraine. It was grounded tat using a blockchain was an opportunity to reduce the cost of transactions, increase transparency and trust in the system, as well as reduce the cost of processes. The main components and stages of the process of blockchain technologies have been identified. It was underlined that blockchain was an innovative concept, a transparent and secure platform for secure storage, transmission, and processing of confidential and valuable data. Main advantages of blockchain and implementation in Ukraine were discloused.